Shire: Takeda cross shareholders seen supporting acquisition
15 May 2018 - 12:00 am UTC
Takeda Pharmaceutical [TYO: 4502] might be able to count on support from its cross shareholders, which account for 30%-40% of its shareholder register, for its proposed acquisition of Shire [LON: SHP] at its EGM, said several fund managers and Takeda shareholders. “Cross shareholders who do business with Takeda and have supply relationships basically do not vote against the interest of the pharmaceutical company,” said one Tokyo-based fund manager, who is familiar with Japan’s “peculiar” cross shareholding system.
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